Impressive Growth in Cyprus Tourism Revenue: €223.3m in Q1 2024, Surging 11.7% YoY

Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said.

Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%.

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The average expenditure per person was €558.88 in March 2024 compared to €530.72 in March 2023 (up 5.3%).

Tourists from the United Kingdom, again Cyprus’ largest tourist market with 31.8% of the total in March, spent on average €73.49 per day, while tourists from Poland, the second largest market with 10.4% of total tourists, spent on average €75.86.

Tourists from Germany, the third largest market with 9.8%, spent on average €98.66 per day, while tourists from Greece with 9% of the market, spent on average €43.37 per day.

Finally, tourists from Israel, the fifth place on the market with 8.2%, spent on average €143.21 per day.

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Tourism Revenue Declines Sharply In Cyprus As Israeli Arrivals Plummet

by THEFUTURE.TEAM

June 4, 2026

Declining Revenue Figures

Data from the Statistical Service show that tourism revenue in Cyprus fell to €85.6 million in March 2026, compared with €129.4 million in March 2025, representing a decline of 33.8%. A significant reduction in arrivals from Israel, one of Cyprus’ key tourism markets, contributed to the decrease.

Downturn In Arrivals And Expenditure

Tourist arrivals declined to 139,198 in March 2026 from 200,736 a year earlier. Average expenditure per visitor also decreased by 4.6%, falling from €644.65 to €615.27. As a result, both visitor numbers and spending contributed to lower tourism revenue during the month.

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Market-Specific Impacts

The sharpest decline was recorded in the Israeli market, where arrivals fell from 28,353 in March 2025 to 1,537 in March 2026. Israeli visitors have historically ranked among the highest-spending tourist groups. In March 2025, average daily expenditure among Israeli tourists reached €194.69.

Despite lower visitor numbers, the United Kingdom remained Cyprus’ largest tourism market, accounting for 32.9% of total arrivals. Arrivals from the UK declined from 61,545 to 45,763, while British tourists spent an average of €69.01 per day and €669.43 per trip.

Poland and Germany remained the second and third largest source markets, representing 12.6% and 10.8% of arrivals respectively. Average daily expenditure reached €81.99 for Polish visitors and €77.88 for German tourists, while average spending per trip stood at €401.76 and €724.25 respectively.

External Factors And Future Implications

Additional pressure on the tourism sector came from security concerns following a drone incident near the British RAF base at Akrotiri, which prompted travel advisories and precautionary measures in several countries. Recent data highlight the impact that changes in key source markets can have on tourism revenue, particularly when declines affect higher-spending visitor segments. Industry stakeholders and policymakers are expected to continue monitoring arrival and spending trends as they assess the performance of the sector during the remainder of the year.

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